Little v. Harbor Pacific Mortgage Investors No. 79B

[175 CalApp3d Page 718] In July of 1980, Harbor Pacific Mortgage Investors No. 79B (Harbor) loaned James and Phyllis Little $28,700. The debt was [175 CalApp3d Page 719] evidenced by a note requiring monthly interest payments of $435.50 for 23 months. A balloon payment of principal and interest in the amount of $29,135.50 was due in two years. A late payment of $25.83 accrued for each payment delinquent for 10 days. The debt was secured by a second lien on the Littles' real property. The first lien deed of trust was held by Home Federal Savings and Loan Association.